Filed March 7, 2018
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $986 |
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $106,254 | $46,732+127.4% | $156,551-32.1% | $55,167+92.6% |
| Participation rate | 91.1% | 65.8%+25.3pp | 84.0%+7.1pp | 69.0%+22.1pp |
| Annual return | 7.02% | 17.72%-10.7pp | 32.23%-25.2pp | 169.23%-162.2pp |
| Employer contribution / active EE | $2,557 | $2,105+21.5% | $5,501-53.5% | $1,963+30.3% |
| Participant deferral / active EE | $4,558 | $2,204+106.8% | $4,871-6.4% | $3,054+49.2% |
| Admin fee / account holder | $6 | $418-98.6% | $13,028-100.0% | $504-98.9% |